Strategic Wireless Infrastructure Funds Management LLC, a private placement sponsor and investment manager focused on telecom infrastructure, has purchased a cell tower located in La Grande, Oregon for an undisclosed price.
The Snake River Tower was constructed in 2012 and is located close to the center of town within close proximity to Eastern Oregon University. The company said that the existing anchor tenant on the tower is a “top-tier wireless carrier” and there is capacity for two additional broadband tenants.
“Despite the slowdown in the overall U.S. economy, cell towers remain critical in supporting the connectivity consumers demand on a daily basis and we continue to be active in the space,” Jerry Sullivan, chief executive officer of Strategic Wireless. “We believe this tower, the existing high-quality tenant and the opportunity to lease additional space make it an attractive addition to our overall portfolio.”
According to a filing with the Securities and Exchange Commission, Strategic Wireless Infrastructure Fund LLC is a Regulation D fund structured as a 506(b) that filed its registration statement in May 2019 and seeks to raise up to $100 million.
Strategic Wireless focuses on acquiring, building and managing telecom infrastructure assets that support mobile and internet connectivity and establishes partnerships with independent operators and developers throughout the U.S.